ALRS Alerus Financial Corporation - Common Stock
$33.46
Price · Aug 19, 2026
Fundamentals as of Aug 3, 2026
52W Range
$20–$34
93% of range
Analyst Rating
HOLD
11 analysts
Price Target
$35
+6% upside
P/E (TTM)
49.2
ROE
3.3%
Net Profit Margin
7.8%
ALRS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$33.46
Market Cap
$850M
P/E (TTM)
49.2
EPS (TTM)
$0.68
Revenue (TTM)
—
Div Yield
2.4%
ROE
3.3%
Debt/Equity
0.5
52W Range
$20 – $34
ALRS Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
—
EPS
$0.68
2023-12-31
→
2025-12-31
Free Cash Flow
$59M
2023-12-31
→
2025-12-31
Margins
7.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ALRS
Peer Median
P/E (TTM)
49.2
31.6
P/S (TTM)
3.8
1.4
P/B
1.5
1.1
EV / EBITDA
71.3
—
Price / FCF
14.4
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ALRS
Peer Median
Net Profit Margin
7.8%
6.2%
ROA
0.33%
0.32%
ROE
3.3%
5.1%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ALRS
Peer Median
Debt / Equity
0.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ALRS
Peer Median
Revenue YoY
1.1%
—
Revenue CAGR 3Y
2.1%
—
Revenue CAGR 5Y
-0.77%
—
EPS YoY
-18.1%
—
Net Income YoY
-1.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ALRS
Peer Median
Payout Ratio
119.4%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
2.4%
Payout Ratio
119.4%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 26, 2026 | $0.2200 |
| March 27, 2026 | $0.2100 |
| Dec. 26, 2025 | $0.2100 |
| Sept. 26, 2025 | $0.2100 |
| June 27, 2025 | $0.2100 |
| March 14, 2025 | $0.2000 |
| Dec. 27, 2024 | $0.2000 |
| Sept. 13, 2024 | $0.2000 |
| June 14, 2024 | $0.2000 |
| March 14, 2024 | $0.1900 |
| Dec. 26, 2023 | $0.1900 |
| Sept. 14, 2023 | $0.1900 |
| June 14, 2023 | $0.1900 |
| March 14, 2023 | $0.1800 |
| Dec. 22, 2022 | $0.1800 |
| Sept. 29, 2022 | $0.1800 |
| June 16, 2022 | $0.1800 |
| March 17, 2022 | $0.1600 |
| Dec. 22, 2021 | $0.1600 |
| Sept. 16, 2021 | $0.1600 |
ALRS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
11 analysts
- Strong Buy 2 18.2%
- Buy 4 36.4%
- Hold 5 45.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-13
Median
$36.00
Mean
$35.40
Now
$33.46
Low
$32.00
High
$37.00
Median target
$36.00
+7.6%
Mean target
$35.40
+5.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.31%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.81 | $0.78 | 0.03% |
| March 31, 2026 | $0.89 | $0.60 | 0.29% |
| Dec. 31, 2025 | $1.38 | $0.18 | 1.2% |
| Sept. 30, 2025 | $0.65 | $0.60 | 0.05% |
| June 30, 2025 | $0.78 | $0.56 | 0.22% |
| March 31, 2025 | $0.52 | $0.43 | 0.09% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ALRS | $572M | 33.1 | 1.1% | 7.8% | 3.3% | — |
| APO | $83.81B | 26.1 | 22.7% | 10.9% | 17.2% | — |
| CRBG | — | -44.4 | -1.2% | — | — | — |
| EQH | — | -9.9 | -6.1% | — | — | — |
| JXN | $7.13B | -444.4 | 104.3% | 0.40% | 0.27% | — |
| VOYA | $6.99B | 11.8 | 1.7% | 8.0% | 14.6% | — |
| SOR | — | — | — | — | — | — |
| NEWT | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Interest Expense | · | · | $77M | $16M | $6M | $12M | $19M | $12M | $8M | |
| Interest Income | $280M | $222M | $165M | $116M | $93M | $96M | $93M | $88M | $76M | |
| Pretax Income | $23M | $23M | $16M | $52M | $69M | $59M | $39M | $33M | $33M | |
| Income Tax | $5M | $5M | $4M | $12M | $16M | $14M | $9M | $7M | $18M | |
| Net Income | $17M | $18M | $12M | $40M | $53M | $45M | $30M | $26M | $15M | |
| EPS (Basic) | $0.69 | $0.84 | $0.59 | $2.12 | $3.02 | $2.57 | $1.96 | $1.88 | $1.10 | |
| EPS (Diluted) | $0.68 | $0.83 | $0.58 | $2.10 | $2.97 | $2.52 | $1.91 | $1.84 | $1.07 | |
| Shares (Basic) | 25,380,000 | 21,047,000 | 19,922,000 | 18,640,000 | 17,189,000 | 17,106,000 | 14,736,000 | 13,763,000 | 13,653,000 | |
| Shares (Diluted) | 25,697,000 | 21,321,000 | 20,143,000 | 18,884,000 | 17,486,000 | 17,438,000 | 15,093,000 | 14,063,000 | 14,007,000 | |
| EBITDA | $15M | $10M | · | · | · | · | · | · | · |
Balance Sheet 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $67M | $61M | $130M | $58M | $242M | $173M | $144M | · | · | |
| PP&E (Net) | $43M | $40M | $18M | · | · | $20M | $21M | $22M | · | |
| PP&E (Gross) | $92M | $85M | $69M | · | · | $66M | $64M | $63M | · | |
| Accum. Depreciation | $49M | $46M | $52M | · | · | $46M | $44M | $41M | · | |
| Goodwill | $86M | $86M | $47M | $47M | $31M | $30M | $27M | $27M | · | |
| Intangibles | $33M | $44M | $17M | $22M | $20M | $26M | $18M | $22M | · | |
| Total Assets | $5.23B | $5.26B | $3.91B | $3.78B | $3.39B | $3.01B | $2.36B | $2.18B | $2.14B | |
| Short-term Debt | $309M | $239M | $314M | $378M | · | · | $0 | $93M | · | |
| Total Liabilities | $4.67B | $4.77B | $3.54B | $3.42B | $3.03B | $2.68B | $2.07B | $1.98B | · | |
| Long-term Debt | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | · | |
| Total Debt | $309M | $239M | $314M | $378M | · | · | · | · | · | |
| Common Stock | $25M | $25M | $20M | $20M | $17M | $17M | $17M | $14M | · | |
| Paid-in Capital | $272M | $270M | $150M | $155M | $93M | $90M | $89M | $28M | · | |
| Retained Earnings | $270M | $274M | $273M | $280M | $254M | $212M | $178M | $159M | · | |
| AOCI | $-2M | $-73M | $-74M | $-99M | $-4M | $11M | $2M | $-4M | · | |
| Stockholders' Equity | $565M | $495M | $369M | $357M | $359M | $330M | $286M | $162M | $148M | |
| Liabilities + Equity | $5.23B | $5.26B | $3.91B | $3.78B | $3.39B | $3.01B | $2.36B | $2.18B | · | |
| Shares Outstanding | 25,406,278 | 25,344,803 | 19,734,077 | 19,991,681 | 17,212,588 | 17,125,270 | 17,049,551 | 13,775,327 | · |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $15M | $10M | $9M | $8M | $9M | $9M | $9M | $9M | $10M | |
| Stock-based Comp | $3M | $2M | $2M | $2M | $3M | $2M | $2M | $2M | $938.0K | |
| Deferred Tax | $6M | $-4M | $893.0K | $913.0K | $3M | $-4M | $337.0K | $-20.0K | $10M | |
| Amort. of Intangibles | $11M | $7M | $5M | $5M | $4M | $4M | $4M | $5M | $6M | |
| Other Non-cash | $26M | $4M | · | · | · | · | · | · | · | |
| Operating Cash Flow | $68M | $22M | $27M | $103M | $150M | $-22M | $19M | $54M | $48M | |
| CapEx | $9M | $12M | $3M | $2M | $2M | $4M | $3M | $4M | $3M | |
| Investing Cash Flow | $77M | $-323M | $-50M | $-293M | $-418M | $-538M | $-66M | $-155M | $-205M | |
| Net Debt Issued | · | $0 | · | $-203.0K | $-50M | $-210.0K | $-230.0K | · | · | |
| Stock Repurchased | $737.0K | $276.0K | $7M | $738.0K | $712.0K | $482.0K | $2M | $356.0K | $294.0K | |
| Net Stock Activity | $-737.0K | $-276.0K | $-7M | $-738.0K | $-712.0K | $-482.0K | $-2M | · | · | |
| Dividends Paid | $21M | $15M | $15M | $13M | $11M | $10M | $9M | $7M | $7M | |
| Financing Cash Flow | $-138M | $232M | $95M | $6M | $337M | $590M | $150M | $20M | $72M | |
| Net Change in Cash | $6M | $-69M | $72M | $-184M | $69M | $29M | $103M | $-81M | $-85M | |
| Taxes Paid | $3M | $448.0K | $11M | $13M | $13M | $14M | $7M | $5M | $13M | |
| Free Cash Flow | $59M | $17M | $26M | $101M | $147M | $-26M | $16M | · | · | |
| Levered FCF | · | · | $-31M | $89M | $143M | $-35M | $2M | · | · |
Profitability 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 7.8% | 8.0% | 7.0% | 19.0% | 22.5% | 19.2% | 15.7% | · | · | |
| Pretax Margin | 10.1% | 10.4% | 9.4% | 24.7% | 29.5% | 25.1% | 20.6% | · | · | |
| EBITDA Margin | 6.8% | 4.4% | · | · | · | · | · | · | · | |
| ROA | 0.33% | 0.37% | 0.30% | 1.1% | 1.6% | 1.7% | 1.3% | · | · | |
| ROE | 3.3% | 4.0% | 3.3% | 11.4% | 14.8% | 13.7% | 10.4% | · | · |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.5 | 0.5 | 0.9 | 1.1 | · | · | · | · | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | · | · |
Growth Rates 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 1.1% | 32.1% | -20.3% | -10.0% | 0.54% | · | · | · | · | |
| Revenue CAGR 3Y | 2.1% | -1.8% | -10.3% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -0.77% | · | · | · | · | · | · | · | · | |
| EPS YoY | -18.1% | 43.1% | -72.4% | -29.3% | 17.9% | · | · | · | · | |
| EPS CAGR 3Y | -31.3% | -34.6% | -38.7% | · | · | · | · | · | · | |
| EPS CAGR 5Y | -23.1% | · | · | · | · | · | · | · | · | |
| Net Income YoY | -1.9% | 52.0% | -70.8% | -24.1% | 17.9% | · | · | · | · | |
| Net Income CAGR 3Y | -24.2% | -30.4% | -36.0% | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -17.2% | · | · | · | · | · | · | · | · | |
| Dividend CAGR 5Y | 14.9% | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $224M | $222M | $168M | $211M | $234M | $233M | $189M | · | · | |
| Net Income TTM | $17M | $18M | $12M | $40M | $53M | $45M | $30M | · | · | |
| Market Cap | $572M | $488M | $442M | $467M | $504M | $469M | $390M | · | · | |
| Enterprise Value | $814M | $665M | $626M | $787M | · | · | · | · | · | |
| P/E | 33.1 | 23.2 | 38.6 | 11.1 | 9.9 | 10.9 | 12.0 | · | · | |
| P/S | 2.5 | 2.2 | 2.6 | 2.2 | 2.1 | 2.0 | 2.1 | · | · | |
| P/B | 1.0 | 1.0 | 1.2 | 1.3 | 1.4 | 1.4 | 1.4 | · | · | |
| P / Tangible Book | 1.3 | 1.3 | 1.4 | 1.6 | 1.6 | 1.7 | · | · | · | |
| P / Cash Flow | 8.5 | 16.8 | 15.2 | 4.5 | 3.4 | -21.1 | 20.2 | · | · | |
| P / FCF | 9.7 | 29.4 | 17.1 | 4.6 | 3.4 | -18.0 | 23.8 | · | · | |
| EV / EBITDA | 53.1 | 67.6 | · | · | · | · | · | · | · | |
| EV / FCF | 13.8 | 40.1 | 24.3 | 7.8 | · | · | · | · | · | |
| EV / Revenue | 3.6 | 3.0 | 3.7 | 3.7 | · | · | · | · | · | |
| Dividend Yield | 3.6% | 3.2% | 3.4% | 2.7% | 2.1% | 2.2% | 2.3% | · | · | |
| Earnings Yield | 3.0% | 4.3% | 2.6% | 9.0% | 10.1% | 9.2% | 8.4% | · | · | |
| Payout Ratio | 119.4% | 86.9% | 126.7% | 32.0% | 20.4% | 23.2% | 30.2% | · | · | |
| Annual Payout | $21M | $15M | $15M | $13M | $11M | $10M | $9M | · | · |
Income Statement 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Expense | · | · | · | · | · | · | · | · | $29M | $27M | · | $22M | $18M | $14M | · | $4M | |
| Interest Income | $71M | $67M | $70M | $71M | $70M | $68M | $67M | $52M | $53M | $49M | $45M | $42M | $40M | $38M | $36M | $32M | |
| Pretax Income | $27M | $30M | $-43M | $22M | $26M | $18M | $-292.0K | $7M | $8M | $9M | $-18M | $12M | $12M | $10M | $15M | $13M | |
| Income Tax | $6M | $7M | $-10M | $5M | $6M | $4M | $-225.0K | $2M | $2M | $2M | $-3M | $2M | $3M | $2M | $4M | $3M | |
| Net Income | $21M | $23M | $-33M | $17M | $20M | $13M | $-67.0K | $5M | $6M | $6M | $-15M | $9M | $9M | $8M | $11M | $10M | |
| EPS (Basic) | $0.82 | $0.90 | $-1.28 | $0.66 | $0.79 | $0.52 | $-0.05 | $0.26 | $0.31 | $0.32 | $-0.73 | $0.46 | $0.45 | $0.41 | $0.53 | $0.48 | |
| EPS (Diluted) | $0.81 | $0.89 | $-1.27 | $0.65 | $0.78 | $0.52 | $-0.06 | $0.26 | $0.31 | $0.32 | $-0.72 | $0.45 | $0.45 | $0.40 | $0.54 | $0.47 | |
| Shares (Basic) | 25,081,000 | 25,380,000 | -50,742,000 | 25,395,000 | 25,368,000 | 25,359,000 | -38,257,000 | 19,788,000 | 19,777,000 | 19,739,000 | -40,011,000 | 19,872,000 | 20,033,000 | 20,028,000 | -35,888,000 | 19,987,000 | |
| Shares (Diluted) | 25,395,000 | 25,679,000 | -51,383,000 | 25,713,000 | 25,714,000 | 25,653,000 | -38,790,000 | 20,075,000 | 20,050,000 | 19,986,000 | -40,439,000 | 20,095,000 | 20,241,000 | 20,246,000 | -36,378,000 | 20,230,000 | |
| EBITDA | · | $3M | · | · | · | $4M | · | · | · | · | · | · | · | · | · | · |
Balance Sheet 18
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $109M | $129M | $67M | $92M | $81M | $83M | $61M | $66M | $438M | $546M | · | $65M | $65M | $145M | · | $54M | |
| PP&E (Net) | $44M | $44M | $43M | $44M | $43M | $41M | $40M | $19M | · | · | · | · | · | · | · | · | |
| PP&E (Gross) | $92M | $94M | $92M | $93M | $90M | $87M | $85M | $64M | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $48M | $50M | $49M | $49M | $48M | $47M | $46M | $45M | · | · | · | · | · | · | · | · | |
| Goodwill | $86M | $86M | $86M | $86M | $86M | $86M | $86M | $47M | $47M | $47M | · | $47M | $47M | $47M | · | $46M | |
| Intangibles | $29M | $31M | $33M | $36M | $38M | $41M | $44M | $13M | $15M | $16M | · | $18M | $20M | $21M | · | $24M | |
| Total Assets | $5.29B | $5.29B | $5.23B | $5.33B | $5.32B | $5.34B | $5.26B | $4.08B | $4.36B | $4.34B | $3.91B | $3.87B | $3.83B | $3.89B | $3.78B | $3.69B | |
| Short-term Debt | $345M | $200M | $309M | $200M | $315M | $200M | $239M | $245M | $555M | $555M | · | $515M | $492M | $372M | · | $254M | |
| Total Liabilities | $4.71B | $4.71B | $4.67B | $4.78B | $4.79B | $4.83B | $4.77B | $3.70B | $3.99B | $3.97B | · | $3.52B | $3.48B | $3.53B | · | $3.35B | |
| Long-term Debt | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | $59M | · | $59M | $59M | $59M | · | $59M | |
| Total Debt | $345M | $200M | · | $200M | $315M | $200M | · | $245M | $555M | $555M | · | $515M | $492M | $372M | · | $254M | |
| Common Stock | $25M | $25M | $25M | $25M | $25M | $25M | $25M | $20M | $20M | $20M | · | $20M | $20M | $20M | · | $20M | |
| Paid-in Capital | $260M | $266M | $272M | $271M | $271M | $270M | $270M | $151M | $151M | $151M | · | $152M | $153M | $155M | · | $155M | |
| Retained Earnings | $303M | $288M | $270M | $308M | $297M | $282M | $274M | $279M | $278M | $275M | · | $291M | $286M | $281M | · | $273M | |
| AOCI | $-5M | $-4M | $-2M | $-54M | $-60M | $-63M | $-73M | $-63M | $-75M | $-74M | · | $-113M | $-101M | $-96M | · | $-103M | |
| Stockholders' Equity | $583M | $575M | $565M | $551M | $533M | $514M | $495M | $386M | $373M | $372M | $369M | $349M | $358M | $359M | $357M | $345M | |
| Liabilities + Equity | $5.29B | $5.29B | $5.23B | $5.33B | $5.32B | $5.34B | $5.26B | $4.08B | $4.36B | $4.34B | · | $3.87B | $3.83B | $3.89B | · | $3.69B | |
| Shares Outstanding | 24,985,815 | 25,214,146 | 25,406,278 | 25,396,686 | 25,388,848 | 25,365,662 | 25,344,803 | 19,790,005 | 19,777,796 | 19,776,786 | · | 19,847,706 | 19,914,884 | 20,066,807 | · | 19,987,274 |
Cash Flow 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $4M | $4M | $4M | $4M | $3M | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Stock-based Comp | $928.0K | $751.0K | $672.0K | $780.0K | $648.0K | $599.0K | $448.0K | $488.0K | $121.0K | $593.0K | $436.0K | $377.0K | $656.0K | $159.0K | $512.0K | $351.0K | |
| Deferred Tax | $3M | $3M | $-2M | $1M | $3M | $4M | $-2M | $-1M | $-676.0K | $0 | $36.0K | $0 | $-602.0K | $1M | $2M | $-2M | |
| Amort. of Intangibles | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | |
| Other Non-cash | · | $-2M | · | · | · | $-14M | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $19M | $28M | $16M | $33M | $11M | $8M | $2M | $19M | $-13M | $12M | $2M | $13M | $12M | $-2M | $48M | $47M | |
| CapEx | $686.0K | $2M | $1M | $2M | $3M | $2M | $5M | $3M | $4M | $881.0K | $2M | $386.0K | $165.0K | $923.0K | $708.0K | $610.0K | |
| Investing Cash Flow | $-15M | $-2M | $76M | $23M | $26M | $-49M | $-93M | $-102M | $-105M | $-22M | $47M | $-51M | $-25M | $-17M | $-118M | $-26M | |
| Stock Repurchased | $7M | $7M | $219.0K | $342.0K | $49.0K | $127.0K | $44.0K | $76.0K | $3.0K | $153.0K | $2M | $1M | $3M | $361.0K | $41.0K | $0 | |
| Net Stock Activity | · | $-7M | · | · | · | $-127.0K | · | · | · | $-153.0K | · | · | · | $-361.0K | · | · | |
| Dividends Paid | $6M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | |
| Financing Cash Flow | $-24M | $35M | $-117M | $-45M | $-39M | $63M | $86M | $-289M | $10M | $426M | $16M | $38M | $-66M | $107M | $74M | $-4M | |
| Net Change in Cash | $-20M | $62M | $-25M | $11M | $-2M | $22M | $-5M | $-372M | $-108M | $416M | $65M | $-747.0K | $-80M | $87M | $4M | $17M | |
| Taxes Paid | $162.0K | $-47.0K | $432.0K | $2M | $500.0K | $1.0K | $188.0K | $86.0K | $173.0K | $1.0K | $4M | $3M | · | · | $4M | $4M | |
| Free Cash Flow | · | $26M | · | · | · | $6M | · | · | · | $11M | · | · | · | $-478.0K | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-9M | · | · | · | $-12M | · | · |
Profitability 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Margin | 25.9% | 30.3% | · | 23.3% | 27.1% | 19.4% | · | 10.2% | 12.1% | 13.5% | · | 18.8% | 19.0% | 16.7% | · | 17.4% | |
| Pretax Margin | 33.8% | 39.9% | · | 30.3% | 35.2% | 25.5% | · | 13.4% | 15.8% | 17.9% | · | 23.6% | 24.2% | 21.4% | · | 22.7% | |
| EBITDA Margin | · | 4.3% | · | · | · | 5.6% | · | · | · | · | · | · | · | · | · | · | |
| ROA | 0.39% | 0.43% | · | 0.36% | 0.42% | 0.28% | · | 0.13% | 0.15% | 0.16% | · | 0.24% | 0.26% | 0.23% | · | 0.28% | |
| ROE | 3.7% | 4.2% | · | 3.6% | 4.5% | 3.0% | · | 1.4% | 1.7% | 1.8% | · | 2.6% | 2.7% | 2.4% | · | 2.8% |
Liquidity & Solvency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.6 | 0.3 | · | 0.4 | 0.6 | 0.4 | · | 0.6 | 1.5 | 1.5 | · | 1.5 | 1.4 | 1.0 | · | 0.7 |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Valuation (TTM) 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $304M | $292M | · | $267M | $246M | $219M | · | $199M | $196M | $193M | · | $201M | $204M | $207M | · | $216M | |
| Net Income TTM | $81M | $73M | · | $56M | $45M | $31M | · | $27M | $31M | $33M | · | $36M | $36M | $37M | · | $42M | |
| Market Cap | $777M | $598M | · | $562M | $549M | $468M | · | $453M | $388M | $432M | · | $361M | $358M | $322M | · | $442M | |
| Enterprise Value | $1.01B | $669M | · | $670M | $783M | $585M | · | $632M | $505M | $441M | · | $812M | $785M | $549M | · | $641M | |
| P/E | 9.9 | 8.3 | · | 10.0 | 11.6 | 13.1 | · | 17.1 | 12.8 | 13.5 | · | 10.3 | 9.8 | 8.2 | · | 9.6 | |
| P/S | 2.6 | 2.0 | · | 2.1 | 2.2 | 2.1 | · | 2.3 | 2.0 | 2.2 | · | 1.8 | 1.8 | 1.6 | · | 2.0 | |
| P/B | 1.3 | 1.0 | · | 1.0 | 1.0 | 0.9 | · | 1.2 | 1.0 | 1.2 | · | 1.0 | 1.0 | 0.9 | · | 1.3 | |
| P / Tangible Book | 1.7 | 1.3 | · | 1.3 | 1.3 | 1.2 | · | 1.4 | 1.2 | 1.4 | · | 1.3 | 1.2 | 1.1 | · | 1.6 | |
| P / Cash Flow | · | 21.5 | · | · | · | 60.7 | · | · | · | 36.0 | · | · | · | 723.8 | · | · | |
| P / FCF | · | 23.2 | · | · | · | 82.7 | · | · | · | 38.9 | · | · | · | -673.8 | · | · | |
| EV / EBITDA | · | 203.8 | · | · | · | 152.5 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | · | 25.9 | · | · | · | 103.4 | · | · | · | 39.7 | · | · | · | -1148.6 | · | · | |
| EV / Revenue | 3.3 | 2.3 | · | 2.5 | 3.2 | 2.7 | · | 3.2 | 2.6 | 2.3 | · | 4.0 | 3.8 | 2.6 | · | 3.0 | |
| Earnings Yield | 10.1% | 12.0% | · | 10.0% | 8.6% | 7.6% | · | 5.9% | 7.8% | 7.4% | · | 9.7% | 10.2% | 12.2% | · | 10.4% | |
| Payout Ratio | · | 22.1% | · | · | · | 38.1% | · | · | · | 58.4% | · | · | · | 44.2% | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Net Income | $17M | — | — | $18M | — |
| Diluted EPS | $0.68 | — | — | $0.83 | — |
Balance Sheet
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.5 | — | — | 0.5 | — |
Cash Flow
| 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $59M | — | — | $17M | — |
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Institutional owners (13F) 172 filers · $321.7M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 33 (+12 vs prior Q) | 12 (+3 vs prior Q) | 55 (+7 vs prior Q) | 37 (-8 vs prior Q) | +464K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $29,415,997 | 945,852 | 9.14% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $27,876,236 | 896,342 | 8.66% | Shares |
| STATE STREET CORP | $17,573,503 | 561,249 | 5.46% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $17,478,053 | 561,856 | 5.43% | Shares |
| Stieven Capital Advisors, L.P. | $11,881,257 | 382,034 | 3.69% | Shares |
| Phocas Financial Corp. | $11,014,221 | 354,155 | 3.42% | Shares |
| BANC FUNDS CO LLC | $10,859,032 | 349,165 | 3.38% | Shares |
| ENDEAVOUR CAPITAL ADVISORS INC | $10,559,010 | 339,518 | 3.28% | Shares |
| AMERIPRISE FINANCIAL INC | $9,669,302 | 310,910 | 3.01% | Shares |
| CHOREO, LLC | $9,120,539 | 293,265 | 2.83% | Shares |
| AMERICAN CENTURY COMPANIES INC | $8,636,097 | 277,688 | 2.68% | Shares |
| GENDELL JEFFREY L | $7,268,070 | 233,700 | 2.26% | Shares |
| GRACE & WHITE INC /NY | $7,094,159 | 228,108 | 2.21% | Shares |
| ProShare Advisors LLC | $7,038,303 | 226,312 | 2.19% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,524,158 | 209,780 | 2.03% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $6,378,392 | 205,093 | 1.98% | Shares |
| MAIRS & POWER INC | $6,326,269 | 203,417 | 1.97% | Shares |
| ALLIANCEBERNSTEIN L.P. | $5,902,865 | 248,961 | 1.83% | Shares |
| Qube Research & Technologies Ltd | $5,110,756 | 164,333 | 1.59% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $5,056,580 | 162,591 | 1.57% | Shares |
| ALERUS FINANCIAL NA | $4,352,383 | 139,948 | 1.35% | Shares |
| FEDERATED HERMES, INC. | $4,335,838 | 139,416 | 1.35% | Shares |
| Keeley-Teton Advisors, LLC | $4,198,819 | 227,455 | 1.31% | Shares |
| GABELLI FUNDS LLC | $4,190,321 | 134,737 | 1.30% | Shares |
| Cutler Capital Management, LLC | $4,179,840 | 134,400 | 1.30% | Shares |
| Quantinno Capital Management LP | $3,867,223 | 124,348 | 1.20% | Shares |
| VANGUARD GROUP INC | $3,664,184 | 162,708 | 1.14% | Shares |
| Foundry Partners, LLC | $3,625,544 | 196,400 | 1.13% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $3,387,288 | 108,916 | 1.05% | Shares |
| Empowered Funds, LLC | $3,084,063 | 99,166 | 0.96% | Shares |
| GOLDMAN SACHS GROUP INC | $2,882,161 | 92,674 | 0.90% | Shares |
| FIRST TRUST ADVISORS LP | $2,611,218 | 83,962 | 0.81% | Shares |
| Trexquant Investment LP | $2,604,252 | 83,738 | 0.81% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,559,530 | 82,300 | 0.80% | Shares |
| Bank of New York Mellon Corp | $2,485,574 | 79,922 | 0.77% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $2,318,785 | 74,559 | 0.72% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $2,213,917 | 71,187 | 0.69% | Shares |
| FORTRESS FINANCIAL GROUP, LLC | $2,063,309 | 66,344 | 0.64% | Shares |
| XTX Topco Ltd | $1,894,208 | 60,907 | 0.59% | Shares |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. | $1,873,464 | 60,240 | 0.58% | Shares |
| CWM, LLC | $1,736,639 | 73,245 | 0.54% | Shares |
| Gator Capital Management, LLC | $1,692,462 | 54,420 | 0.53% | Shares |
| Wealth Forward, LLC | $1,563,677 | 50,279 | 0.49% | Shares |
| Squarepoint Ops LLC | $1,536,931 | 49,419 | 0.48% | Shares |
| CITIGROUP INC | $1,475,042 | 47,429 | 0.46% | Shares |
| JPMORGAN CHASE & CO | $1,324,919 | 42,698 | 0.41% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,313,695 | 42,241 | 0.41% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $1,267,041 | 41,111 | 0.39% | Shares |
| IEQ CAPITAL, LLC | $1,219,898 | 39,225 | 0.38% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,168,116 | 37,560 | 0.36% | Shares |
| RHUMBLINE ADVISERS | $990,185 | 31,839 | 0.31% | Shares |
| Mariner, LLC | $978,361 | 31,459 | 0.30% | Shares |
| BANK OF AMERICA CORP /DE/ | $888,496 | 28,569 | 0.28% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $882,525 | 28,377 | 0.27% | Shares |
| Creative Planning | $866,328 | 27,856 | 0.27% | Shares |
| STRS OHIO | $774,390 | 24,900 | 0.24% | Shares |
| DEUTSCHE BANK AG\ | $728,362 | 23,420 | 0.23% | Shares |
| Johnson Wealth Management, LLC | $715,500 | 23,006 | 0.22% | Shares |
| GAMCO INVESTORS, INC. ET AL | $705,068 | 22,671 | 0.22% | Shares |
| TWO SIGMA ADVISERS, LP | $698,120 | 31,000 | 0.22% | Shares |
| Lafayette Investments, Inc. | $681,090 | 21,900 | 0.21% | Shares |
| FMR LLC | $673,097 | 21,643 | 0.21% | Shares |
| WELLS FARGO & COMPANY/MN | $624,861 | 20,092 | 0.19% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $601,536 | 19,342 | 0.19% | Shares |
| Cetera Investment Advisers | $590,046 | 18,973 | 0.18% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $584,680 | 18,800 | 0.18% | Shares |
| Odyssean, LLC | $584,089 | 18,781 | 0.18% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $565,211 | 18,174 | 0.18% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $557,716 | 17,933 | 0.17% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $520,394 | 16,615 | 0.16% | Shares |
| Aquatic Capital Management LLC | $515,140 | 16,564 | 0.16% | Shares |
| Inspire Investing, LLC | $513,962 | 21,677 | 0.16% | Shares |
| MetLife Investment Management, LLC | $427,283 | 13,739 | 0.13% | Shares |
| MARSHALL WACE, LLP | $418,513 | 13,457 | 0.13% | Shares |
| Aviance Capital Partners, LLC | $407,747 | 13,111 | 0.13% | Shares |
| Russell Investments Group, Ltd. | $389,123 | 12,512 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $374,848 | 12,053 | 0.12% | Shares |
| BlackRock, Inc. | $345,210 | 11,100 | 0.11% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $343,593 | 11,048 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $334,978 | 10,771 | 0.10% | Shares |
| Tower Research Capital LLC (TRC) | $331,961 | 10,674 | 0.10% | Shares |
| Cubist Systematic Strategies, LLC | $330,966 | 14,949 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $318,682 | 10,247 | 0.10% | Shares |
| Harbor Advisors LLC | $306,864 | 9,867 | 0.10% | Shares |
| Invesco Ltd. | $297,969 | 9,581 | 0.09% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $267,460 | 8,600 | 0.08% | Call option |
| MARTINGALE ASSET MANAGEMENT L P | $261,240 | 8,400 | 0.08% | Shares |
| PFG Advisors | $247,183 | 7,948 | 0.08% | Shares |
| MML INVESTORS SERVICES, LLC | $246,850 | 7,937 | 0.08% | Shares |
| Tradition Wealth Management, LLC | $246,063 | 7,912 | 0.08% | Shares |
| Arax Advisory Partners | $243,109 | 7,817 | 0.08% | Shares |
| LPL Financial LLC | $228,896 | 7,360 | 0.07% | Shares |
| MORGAN STANLEY | $224,044 | 7,204 | 0.07% | Shares |
| Police & Firemen's Retirement System of New Jersey | $210,205 | 6,759 | 0.07% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $207,499 | 6,672 | 0.06% | Shares |
| PRUDENTIAL FINANCIAL INC | $203,705 | 6,550 | 0.06% | Shares |
| CHIRON CAPITAL MANAGEMENT, LLC | $200,035 | 6,432 | 0.06% | Shares |
| MEEDER ASSET MANAGEMENT INC | $142,407 | 4,579 | 0.04% | Shares |
| NORTHERN TRUST CORP | $117,620 | 3,782 | 0.04% | Shares |
| AlphaQuest LLC | $108,456 | 4,816 | 0.03% | Shares |
Company insiders 26 insiders · 12 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Katie A Lorenson | President and CEO | Feb. 27, 2024 A | 43,507 | 0 | 0 | $0 |
| Alan Villalon | Chief Financial Officer | Feb. 27, 2024 A | 9,287 | 0 | 0 | $0 |
| Kari Koob | SVP, Controller | July 3, 2026 F | 1,100 | 0 | 0 | $0 |
| Forrest Wilson | EVP & Chief Ret. Svcs. Officer | Feb. 27, 2024 A | 9,204 | 0 | 0 | $0 |
| Jon Hendry | Chief Technology Officer & EVP | Feb. 27, 2024 A | 52,468 | 0 | 0 | $0 |
| Missy Keney | Chief Engagement Officer & EVP | Feb. 27, 2024 A | 6,896 | 0 | 0 | $0 |
| Jim Collins | EVP, CBO & CRO | Feb. 27, 2024 A | 13,648 | 0 | 0 | $0 |
| Karin M Taylor | EVP and Chief Risk Officer | Feb. 27, 2024 A | 23,860 | 0 | 0 | $0 |
| Jerrod Hanson | Chief Accounting Officer | Jan. 30, 2023 P | 12,700 | 0 | 0 | $0 |
| Ann Mcconn | EVP and Chief/SSO | May 17, 2022 G | 52,164 | 0 | 0 | $0 |
| Ryan Goldberg | Chief Revenue Officer | Feb. 17, 2021 A | 11,820 | 0 | 0 | $0 |
| Kris Compton | Executive Vice President/ CSO | Sept. 17, 2019 P | 166,138 | 0 | 0 | $0 |
| Jeffrey Bolton | Director | May 27, 2026 P | 14,163 | 1 | 0 | $28,720 |
| John Uribe | Director | May 22, 2026 A | 7,352 | 0 | 0 | $0 |
| Nikki Sorum | Director | May 22, 2026 A | 7,352 | 0 | 0 | $0 |
| Mary Zimmer | Director | May 22, 2026 A | 12,374 | 0 | 0 | $0 |
| Daniel E Coughlin | Director | May 22, 2026 A | 49,083 | 0 | 0 | $0 |
| Randy L Newman | Director | May 22, 2026 A | 309,886 | 0 | 0 | $0 |
| Janet O Estep | Director | May 22, 2026 A | 14,841 | 0 | 0 | $0 |
| Galen G Vetter | Director | May 22, 2026 A | 27,311 | 0 | 0 | $0 |
| Kevin D Lemke | Director | May 8, 2023 A | 84,570 | 0 | 0 | $0 |
| Michael S Mathews | Director | May 8, 2023 A | 10,324 | 0 | 0 | $0 |
| Jill Schurtz | Director | Nov. 15, 2021 A | 500 | 0 | 0 | $0 |
| Karen Bohn | Director | May 12, 2021 A | 46,004 | 0 | 0 | $0 |
| Sally J Smith | Director | May 12, 2021 A | 90,994 | 0 | 0 | $0 |
| Lloyd G Case | Director | May 28, 2020 A | 42,775 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 50 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| AVSC · AMERICAN CENTURY ETF TRUST | 0.05% | 46,697 NS | May 31, 2026 | N-PORT |
| PSC · Principal Exchange-Traded Funds | 0.04% | 31,171 NS | June 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.02% | 202,949 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.02% | 10,169 NS | April 30, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.02% | 48,187 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 1,107 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.02% | 83,705 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 121,609 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.01% | 71,939 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 865 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 874 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 975 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 833 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 22 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 1,679 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 2,137 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 25,745 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 6,041 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 5,490 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 6,581 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 14,118 NS | May 31, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.00% | 4,320 NS | April 30, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.00% | 100 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VFMF · VANGUARD WELLINGTON FUND | — | — | July 30, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| ITOT · iShares Trust | — | — | July 22, 2026 | Daily |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWN · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PFM · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| PXH · Invesco Exchange-Traded Fund Trust … | — | — | Aug. 17, 2026 | Daily |
| EEMO · Invesco Exchange-Traded Fund Trust … | — | — | Aug. 4, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | — | — | July 13, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |
| EEM · iShares, Inc. | — | — | Aug. 18, 2026 | Daily |
| BKF · iShares, Inc. | — | — | Aug. 14, 2026 | Daily |
| PICK · iShares, Inc. | — | — | Aug. 14, 2026 | Daily |
| IEMG · iShares, Inc. | — | — | Aug. 12, 2026 | Daily |
| EMXC · iShares, Inc. | — | — | Aug. 6, 2026 | Daily |
| ACWX · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| ACWI · iShares Trust | — | — | Aug. 4, 2026 | Daily |
| IXUS · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| CRBN · iShares Trust | — | — | July 24, 2026 | Daily |
| GLOF · iShares Trust | — | — | July 20, 2026 | Daily |